Jim Hubbard & Associates, Inc. Acquires Managing Partners, Inc.

Jim Hubbard & Associates, Inc. (JH&A), a leading provider of debt collections software to law firms, collection agencies, and financial institutions, today announced that it has acquired the assets of Managing Partners, Inc. Managing Partners, a privately held software firm based in Jacksonville, Florida, is a developer of Microsoft® Windows-based business management software for the collections industry. This acquisition expands JH&A?s debt collections software portfolio and enhances its momentum in its current market as well as facilitates the firm?s entry into new markets.

The addition of Managing Partners? ?Point. Click. Collect.? software, coupled with JH&A?s upcoming June release of its new Colipso™ debt collections

software, will allow the firm to offer one of the industry?s broadest arrays of collections applications. Because both companies are privately owned, the terms of the agreement were not disclosed. The acquisition closed on October 22, 2002.

?This is a strong strategic combination that immediately provides expanded choices to our customers and the marketplace,? said Gregory Jones, CEO of Jim Hubbard & Associates, Inc. ?The Managing Partners? ?Point. Click. Collect.? software is a very thorough and highly functional system. We can now offer a 32 bit Windows-based alternative that has been tested and proven through daily use. Our customer base has access to a high-quality application running on the most widely accepted platform.?

Upon completion of the acquisition, most of the combined firms? operations will be based out of JH&A?s Birmingham location. A small staff will remain in Jacksonville. Mr. Jones will be President and CEO and Jim Hubbard will be the Chairman of the combined business.

It is anticipated that the acquisition will provide a number of benefits:

 Enables JH&A to immediately offer a high quality, proven 32-bit Windows-based collections system.

 Broadens the scope of JH&A?s presence in the debt collections marketplace.

 Enhances the staff capabilities of the combined firms.

 Customers are provided a wider variety of choices of platforms.

 Further establishes JH&A as one of the most future-oriented, customer-focused firms in the debt collections software marketplace.

About Jim Hubbard & Associates, Inc.
JH&A?s applications software manages the debt collections process from start to finish. The firm?s offerings cover the full array of case management, client status, trust accounting and statistical reporting functions. Users also have access to the firm?s data exchange network allowing them to create a virtual debt collections network between themselves and other parties involved in the debt collections process. Founded in 1983 and headquartered in Birmingham, AL, Jim Hubbard & Associates provides debt collections software solutions to more than 300 clients nationwide. For more information visit www.jimhubbard.com.

About Managing Partners, Inc.
Managing Partners has served the collections and legal industry since 1995 providing practical computer systems that make businesses more efficient, profitable, and productive. Their systems are in operation at collection law firms, corporate legal departments, and at other types of debt collection firms.